Sanderson Design Group – strong cash and licensing revenues showing in first half year

This morning’s Interim Trading Update for the six months to end July from Sanderson Design Group (LON:SDG) showed a very solid performance by the luxury furnishings business despite various pressures with supply, cost price inflation and other hassles like ceasing its business with Russia.

The reorganisation, that was set underway since the change in leadership in 2019, has helped to progress the group and the first six months showing looks set to lift both sales and profits for the current trading year to the end of January 2023.

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What the company does

Sanderson Design Group designs, manufactures, markets, and distributes luxury interior furnishings, fabrics, paints and wallpapers worldwide.

The company, which has showrooms in Chelsea Harbour, London; in Manhattan, New York, in Chicago, Dubai and Amsterdam, serves designers, retailers, distributors, and architects.

Employs some 600 people the company operates in two segments, Brands and Manufacturing.

The Brands segment designs, markets, sells, distributes, and licenses Sanderson, Morris & Co., Harlequin, Zoffany, Scion, Clarke & Clarke, and Archive by Sanderson Design brands.

This segment offers wallpapers and fabrics, homewares, window coverings, furniture items, bedding products, cushions, paints, scarves, and leather goods.

The Manufacturing segment manufactures wallcoverings and printed fabrics.

It has a strong UK manufacturing base comprising Anstey wallpaper factory in Loughborough and the Standfast & Barracks fabric printing factory, in Lancaster. Both sites manufacture for the Company as well as for other wallpaper and fabric brands.

In addition, the Company derives licensing income from the use of its designs on a wide range of products such as bed and bath collections, rugs, blinds and tableware.

Recent tie-ups looking good

Recent agreements with Harrods, NEXT, Bedeck, Ben Pentreath and Sophie Robinson are all very encouraging.

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